March 14, 2012
Daily commentary, current portfolio structure and history follow.
Please direct questions and comments to:
Drach Market Research
2910 Kerry Forest Parkway D4-210
Tallahassee FL 32309
Tel. (850) 576-2680
E Mail DrachMkt@aol.com
Position Changes: None.
Major movements (+ or – one point or more among holdings): CH Robinson -1.05, Suncor Energy -1.56.
Basic Summary (positions itemized after daily commentary)
Relative performance (market to market) vs. S&P 500 since initiation
This Portfolio Model + 216%
S&P 500 + 168%
Portfolio model initiated 5/5/95, archived and marked to market daily.
Initial S&P 500 level 520.12. Initial portfolio value $520,120.00
Current portfolio value $1,646,175.12, gain 216.50%
These results are reflective as to capital capture and market price of current holdings, itemized below. They do not include cash dividends, interest earned on cash balances, transaction costs, or anything else.
Current Stock vs. Cash Allocation
$1,064,747.96 (64%) stock. $581,427.16 (36%) cash equivalents.
Summary of Closed Positions
Total Positions 459 Average Position Profit 413 (89.97%) Percentage + 7.19% Loss 46 (10.03%) Days Held 220 Even 0 ( 0%) Annualized + 11.93%
Stocks managed to hold most of Tuesday’s gains in today’s session. While equities posted mixed results, market internals reflected much broader weakness, with decliners outnumbering advancing stocks 3:1. It is still too early to tell if these internal shifts will aggravate pricing dislocations seen in recent weeks, or further alleviate them.
This model remains flexible. After accumulating significant cash by selling into strength, this portfolio could acquire individual high quality names displaying relative weakness, or could be attuned to more aggressive buying in the event of a pullback. Neither scenario is imminent, yet recent volatility and accompanying pricing dislocations have us on watch.